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Oro Valley Real Estate Cycles
One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Oro Valley market does not necessarily move in tandem with the stock market or the economy as a whole. Oro Valley is a unique situation.
When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Oro Valley is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Oro Valley market will take the lead.
Oro Valley Disclosure Rule
Tell All is definitely the rule for anyone who is selling Oro Valley real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.
Today, those selling a home or any Oro Valley are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Oro Valley seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.
Bitten by the Oro Valley Home Improvement Bug?
Maybe, like millions of Americans, you can’t help it! You live in your Oro Valley home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Oro Valley homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesn’t take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.
What Makes Oro Valley Sell?
The Condition affects its salability and possibly price. Oro Valley that is in move-in condition will usually sell for a higher price than a home that suffers from deferred maintenance.
The Home’s Accessibility refers to just that. Is the Oro Valley accessible to shopping and local transportation? For some this would be a necessity and for others, the more remote the better.
Marketing Exposure refers to how Oro Valley is advertised. Today the Internet is a fantastic way to market a home but it is still true that the best service a listing agent can do for sellers is to promote the home heavily with local brokers and agents. The Internet and other advertising certainly help, but it is still true that in most cases it is the agent that sells the home by making sure the right buyers know about it.
When Oro Valley Does Not Sell
Here is where your agent’s expertise and diligence comes into play. A top agent will consider what similar Oro Valley have sold for within the last 3 to 6 months and compare those homes condition, features and location with your home. If there are no comparable sales in the area, which is often the case with custom or one-of-a-kind properties, the agent may suggest that you obtain a formal appraisal.
A homeowner who must sell and sell quickly needs to price their Oro Valley at or slightly below market to ensure a quick sale. A different homeowner may want to sell but has time and wants to get the top market price. These homeowners will often price the home slightly above current market prices and expect interested buyers to offer a lower amount to start the negotiation.
Oro Valley APPEAL
A large part of the appeal of the real estate market in any area is the architecture or the style of the homes themselves. The appeal of Oro Valley is its appropriateness to the region in terms of style, history and weather conditions.
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